More Than $1.25 Billion Received By ARPA-E Projects In Follow-on Funding
Over $1.25 billion in private follow-on funding has been received by ARPA-E projects for new energy technologies. If you would like to see the full list of companies, download this PDF file, which has about 8 pages of them.
“Since the first awards in 2010, ARPA-E projects have demonstrated tangible technical and market results for innovative energy technologies needed to spur America’s low-carbon economy. Mission Innovation’s goal to double U.S. energy research and development includes a substantial expansion of ARPA-E funding, providing increased opportunities for private sector investment and accelerated technology deployment,” said U.S. Energy Secretary Ernest Moniz.
Some other key facts: 36 projects have created new companies and 60 have formed partnerships with other government agencies to extend their work.
Through 30 focused programs and three open funding solicitations, ARPA-E has provided about $1.3 billion for 475 projects so far. Supporting technological innovation is a smart thing to do, because it encourages economic growth and job creation, “Many ARPA-E-funded universities and research institutions have created start-up companies to further catalyze their next-generation technologies. Ambri and BlackPak are two examples of ARPA-E projects that were spun out by other institutions—Massachusetts Institute of Technology and SRI International, respectively—in an effort to get their technologies out of the lab and into the market quickly.”
ARPA-E also has a tech to market program to help new technologies enter the marketplace and make positive impacts. Of course, there is sort of a double duty performed by the funding and support of clean energy technology development, because clean energy is better for our environment and public health. It also makes the U.S. less dependent on foreign oil, which is better economically and geo-politically.
While some might say, “It’s just energy,” the truth is that energy production is tied to many other important things, so ARPA-E’s influence does not end with energy.
Additionally, many of the new clean tech startups are founded by young adults who can use support as they begin their work lives, and some are still in college. Having support and incentives allows them to think differently and take risks.
Image Credit: Pnnl.gov
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